In September 2017, the British copper, zinc and lead production and exploration company, Central Asia Metals (CAML) had unveiled the 402 million dollar takeover of the “Sasa” zinc mine in fYROMacedonia, “hailing it as the ‘perfect next step’ to grow its operations”, according to an article of The Telegraph.
The company acquired 100% of the mine which was operated by Lynx Resources Limited (from Bermuda-based fund Orion Co-Investments III and Swiss firm Fusion Capital, The telegraph) in the past.
Nick Clarke, the executive chairman of CAML said, “We are delighted that the acquisition process was completed successfully. We believe that this will provide additional impetus for the overall development of both the local community and the Macedonian economy.”
Thanks to the rising zinc prices, that grew 22% in 2017 Central Asia Metals underlines the business could profit from the development.
CAML already operates a copper mine in Kazakstan and will now operate in Sasa zinc-lead mine of northeast fYROMacedonia too. The mine is near the country’s border with Bulgaria and has an estimated 20 year life. Usually, zinc is used as an anti-corrosion coating…/IBNA